Chipotle Mexican Grill is increasing its food prices by approximately 2% to offset inflation costs, according to the company's chief corporate affairs officer. This marks the first price increase in over a year, with the chain citing rising ingredient costs as the reason for the adjustment. Despite the price hike, Chipotle remains focused on providing value to its customers and maintaining consistent portion sizes. The company's revenue for the third quarter of 2024 saw a 13% increase compared to the previous year, with adjusted earnings per share exceeding expectations. Chipotle plans to open hundreds of new restaurants in 2025, with the majority featuring the brand's digital order drive-thru pickup lane.